Respuesta :
Medical expenses are most likely to increase for retirees.
This is because especially in their older years, healthcare is one of the major expense concerns for retirees. To begin saving and planning a budget for future healthcare costs, it is a good idea to familiarize yourself with industry statistics regarding healthcare costs above and above what is covered by Medicare parts A and B.
In total, the median retiree spent $4,311 on medical expenses, with most of that money going toward Medicare premiums. In 2022, the monthly premium for Medicare Part B, which is medical insurance, was $170.10.
What is Healthcare?
The enhancement of one's health through the prevention, diagnosis, treatment, amelioration, or cure of disease, illness, injury, and other physical and mental impairments in humans is known as healthcare. Health professionals and other allied health areas provide healthcare.
What does healthcare serve as a purpose ?
The main goal of health care is to improve health in order to improve quality of life. To maintain their valuation and continue to operate, commercial enterprises concentrate on generating financial profit. For health care to live up to its promise to society, it must prioritize generating social profit.
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housing expenses are the major concern
Why are housing expenses major concern?
- retirees aged 65 and above spent an average of $16,880 per year on housing alone, adding a total of $1,406.67 to their monthly expenses.
- The following year, 2021, saw a slight increase in housing costs for retirees.
- the biggest expense for most retirees is still housing. This expense category includes:
- Mortgage payments
- Utilities
- Homeowners association fees
- Insurance
- Property taxes
- Maintenance or repairs
- Paying rent
- The first ten years of retirement are usually linked to higher housing costs.
- The younger retirees, those aged 65 to 74, spent an average of $18,027 per annum in 2020, while, for the rest of the retirees, those costs were only a little over $15K.
- A recent study from Harvard University shed light on why that is.
- The study showed that almost half of retirees aged 65 to 79 are still paying a mortgage, while that number drops to roughly a quarter for retirees 80 and up.
- Therefore, we can safely assume that a good portion of an average American retiree's housing expenses goes toward paying their mortgage, which is quite surprising.
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